Two new nominees to replace longstanding members
PITTSBURGH, March 11 /PRNewswire-FirstCall/ -- Pittsburgh based L.B. Foster Company (NASDAQ:FSTR) today announced that two members of its Board of Directors, John W. Puth and Henry J. Massman, IV, will not stand for reelection at the Company's Annual Meeting in May. Peter McIlroy, II, and Suzanne B. Rowland have been nominated as their replacements.
Mr. Puth, managing member of J.W. Puth Associates, LLC, and general partner of JDA Partners LP, has been a member of the Board of Directors since 1977. Per Mr. Puth, "The dynamics of the business have changed quite rapidly in recent years and senior management has skillfully taken advantage of these changes to the benefit of the Company's shareholders. With this in mind, as a retiring long term director, I am very comfortable with their ability to continue down this path, and by utilizing the proceeds from the DM&E investment, to dramatically expand in the future." Mr. Massman, President and CEO of Massman Construction Company, has been on L.B. Foster's Board of Directors since 1998. According to Mr. Massman, "Over the last ten years, I have seen the Company continue to expand its presence in various markets. They have talented management, dedicated employees and the Company is well positioned for the future. It has been a privilege to serve on L.B. Foster's Board of Directors." Mr. McIlroy is Chairman of the Board and CEO of Pittsburgh based Robroy Industries and has been with the company since 1965.
Ms. Suzanne B. Rowland is Managing Director of Energy & Environmental Enterprises, Inc. She has also worked in various senior management capacities with J.M. Huber Corporation and Rohm and Haas Company.
Stan L. Hasselbusch, President and CEO of L.B. Foster, thanked both of the outgoing Directors for their many years of dedicated service to the Company. "Both John and Henry have been invaluable members of our Board. John has the longest tenure of any of our Board members and has helped to guide us through the many changes that the company has seen over the past 30 years. Henry has been instrumental in assisting us in redefining our business model and has provided critical insights over the past decade. We thank them both for their many years of service." He continued, "We look forward to the future contributions of both Peter and Suzanne. They bring diverse backgrounds to our Board and I anticipate their active involvement with our Company in the years to come." The company can be contacted via telephone at 412-928-3400 or 1-800-255-4500 or via its website at http://www.lbfoster.com/.
L.B. Foster Company is a leading manufacturer, fabricator and distributor of products for rail, construction, utility and energy industries.
Contact Information: Jake Fuellhart (412) 928-5645 or DATASOURCE: L.B. Foster Company CONTACT: Jake Fuellhart of L.B. Foster Company, +1-412-928-5645, Web site: http://www.lbfoster.com/
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